Large-volume 'tract' builders will typically develop the...

Large-volume 'tract' builders will typically develop the ground -- streets, utilities, public/open spaces -- and build two or three display homes from which they will sell to buyers. Most of these also will do 'semi-custom' homes, where a buyer may generously modify or upgrade one of the offered models. These builders may build 'speculative' homes, hoping someone will like the house and land and buy it.